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SEC Imposes $100,000 Fine for Firm's Failure to Safeguard Customer Information
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November 9, 2009
Previously published on October 29, 2009
The Securities and Exchange Commission (SEC) recently intensified its efforts to ensure that firms implement adequate measures to protect customers' nonpublic personal information. On September 29, 2009, the SEC issued a cease and desist order pursuant to Sections 15(b) and 21C of the Securities Exchange Act of 1934, and Sections 203(e) and 203(k) of the Investment Advisers Act of 1940 against a registered broker-dealer/investment adviser that failed to safeguard customer information.
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